Self-custody Lightning is tied to an on-chain UTXO, yes.
But a custodial Lightning provider could just as easily create “paper sats” as an eCash mint could.
Bitcoin eCash doesn’t purport to solve everything. It’s still custodial, so a user can still get rugged and the Mint could still play paper games. Same incentives - and approximately the same risks - as a basic custodial Lightning wallet provider like Alby or WoS in this area. Gotta choose to trust a mint the same as you’d choose to trust Alby etc.
But eCash offers a significantly better privacy schematic than a standard custodial Lightning wallet provider. That’s the primary improvement over regular (custodial) Lightning.
It also can offer faster transactions and smoother UX in some cases, and the cryptography/tech (the little of it that I understand) is extremely cool.
bostonwine / boston wine
npub14q…e2q26
2024-07-13 20:04:35
in reply to nevent1q…kjh3
Author Public Key
npub14qz92uedt0a8jte8jqg63jr3s5cc99cej36jh883z6tprlu354uqqe2q26Published at
2024-07-13 20:04:35Event JSON
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"content": "Self-custody Lightning is tied to an on-chain UTXO, yes.\n\nBut a custodial Lightning provider could just as easily create “paper sats” as an eCash mint could.\n\nBitcoin eCash doesn’t purport to solve everything. It’s still custodial, so a user can still get rugged and the Mint could still play paper games. Same incentives - and approximately the same risks - as a basic custodial Lightning wallet provider like Alby or WoS in this area. Gotta choose to trust a mint the same as you’d choose to trust Alby etc.\n\nBut eCash offers a significantly better privacy schematic than a standard custodial Lightning wallet provider. That’s the primary improvement over regular (custodial) Lightning.\n\nIt also can offer faster transactions and smoother UX in some cases, and the cryptography/tech (the little of it that I understand) is extremely cool.",
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